IonQ, Inc. (NYSE:IONQ – Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $38.54, but opened at $40.01. IonQ shares last traded at $38.71, with a volume of 3,008,207 shares traded.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on IONQ. The Goldman Sachs Group upped their price target on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Needham & Company LLC upped their target price on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Benchmark upped their target price on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. DA Davidson initiated coverage on shares of IonQ in a research report on Thursday, December 19th. They set a “buy” rating and a $50.00 target price for the company. Finally, Craig Hallum upped their target price on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, IonQ currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.
View Our Latest Stock Analysis on IonQ
IonQ Stock Down 3.5 %
The company has a market cap of $8.05 billion, a PE ratio of -45.94 and a beta of 2.43. The stock’s 50 day moving average is $37.66 and its 200-day moving average is $20.19.
IonQ (NYSE:IONQ – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. During the same quarter in the previous year, the company posted ($0.22) earnings per share. The company’s revenue for the quarter was up 102.1% on a year-over-year basis. On average, analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value of $290,661.60. Following the sale, the chief financial officer now directly owns 926,114 shares in the company, valued at approximately $27,524,108.08. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $389,641.38. Following the completion of the sale, the chief executive officer now owns 414,363 shares in the company, valued at $12,319,011.99. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,223 shares of company stock worth $1,314,652 in the last three months. Corporate insiders own 11.60% of the company’s stock.
Institutional Trading of IonQ
A number of institutional investors have recently bought and sold shares of IONQ. Xponance Inc. acquired a new stake in IonQ in the 2nd quarter worth approximately $88,000. The Manufacturers Life Insurance Company boosted its stake in IonQ by 16.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 115,782 shares of the company’s stock worth $814,000 after purchasing an additional 16,642 shares in the last quarter. Algert Global LLC acquired a new stake in IonQ in the 2nd quarter worth approximately $126,000. Granite Bay Wealth Management LLC acquired a new stake in IonQ in the 2nd quarter worth approximately $221,000. Finally, Handelsbanken Fonder AB boosted its stake in IonQ by 33.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 69,200 shares of the company’s stock worth $605,000 after purchasing an additional 17,200 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.
IonQ Company Profile
IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace, as well as through its cloud service.
Further Reading
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